(PharmaNewsWire.Com, May 15, 2020 ) The global advanced wound care market is expected to reach USD 13.07 Billion by 2022 from USD 10.43 Billion in 2017, at a CAGR of 4.6%. Factors driving the growth of this market include the increasing prevalence of surgical wounds & ulcers (diabetic foot ulcers, pressure ulcers, and venous leg ulcers), increasing aging population, increasing demand for evidence- based advanced wound care products, rising R&D activities, advancements in the field of advanced wound care research, and increasing awareness about wound care treatment.
Moist wound dressings are estimated to account for the largest market share in 2017
By product, the advanced wound care market is segmented into moist wound dressings, wound therapy devices, and active wound care. The moist wound dressings segment is further subcategorized into foam, hydrocolloid, film, alginate, hydrogel, and collagen dressings. The increasing incidence of target indications, such as diabetic ulcers, venous ulcers, and pressure ulcers, is expected to support the demand for moist wound dressings during the forecast period.
The surgical wounds segment is estimated to dominate the market in 2017
By wound type, the market is categorized into surgical wounds, ulcers, traumatic wounds, burns, and other wounds. The surgical wounds segment is projected to account for the largest share of the global advanced wound care market. The large share of this segment can be attributed to factors such as rising incidence of diabetes and diabetic foot ulcers (due to the prevalence of pressure ulcers and venous leg ulcers in the geriatric population, increasing the demand for advanced wound care products).
By end user, hospitals and clinics are estimated to command for the largest share of the market
By end users, the advanced wound care market is categorized into hospitals and clinics, home care settings, and other end users. The hospitals and clinics segment is estimated to account for the largest share of the global advanced wound care market. Increasing patient admissions for the treatment of chronic wounds, rising incidence of diabetes, and improving hospital infrastructure in developing countries are key factors driving the growth of this end-user segment.
North America is estimated to command the largest share of the market
Based on region, the advanced wound care market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2017, North America is estimated to account for the largest share of the global wound care market. The large share of North America is attributed to the growing geriatric population, surging prevalence of chronic wounds, and product launches in this region.
The key players in the advanced wound care market are Smith & Nephew (UK), Mölnlycke Health Care (Sweden), B. Braun (Germany), ConvaTec Group (US), Coloplast (Denmark), Integra LifeSciences(US), 3M Company (US), Cardinal Health (US), Acelity L.P. (US), Medtronic (US), MPM Medical (US), PAUL HARTMANN (Germany), Medline Industries (US), Lohmann & Rauscher (Germany), Advanced Medical Solutions Group (UK), BSN medical GmbH (Germany), Wound Care Technologies (US), Vivostat A/S (Denmark), Organogenesis (US), Hematris Wound Care (Germany), Alliqua BioMedical (UK), MiMedX Group (US), Triage Meditech (India), DeRoyal Industries (US), and Laboratoires URGO (UK).
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